This borrower just completed ground-up construction on this commercial building and had yet to find a tenant. His current first mortgage was due, and our loan affords him the ability to meet his obligations, stabilize the income and seek conventional financing. We quickly funded $750,000 on this vacant building in the Bayview.
This self-employed, stated-income contractor purchased this property using mostly all cash. He then proceeded to renovate the building by adding a 2nd story and turning the entire space into a restaurant, again using all-cash. His budget was exceeded with construction overruns, and he needed a quick injection of $600,000 to complete the restaurant and open […]
This self-employed and stated-income borrower exceeded his construction budget on his house and needed a loan to complete the project. Sequoia lent on his free-and-clear commercial building in Concord. Both tenants’ leases will expire during the term of the loan and Sequoia funded it without an appraisal of the subject property. We lent $100,000 at […]
This borrower is a non-profit church that requested an $850,000 loan to purchase a partially-vacant, mixed-use property for less than our loan amount, i.e. over 100% loan-to-value. Sequoia made the loan but cross-collateralized with the building the church uses as their temple to reduce the loan-to-value to an acceptable range below 50%. Sequoia lent at […]
Our loan paid off a first mortgage of $1,000,000 and replenished money the borrower spent on extensively renovating the property, including seismically reinforcing the building. The payment on our loan is only 60% of the rents generated by the building, so the positive cash-flow is solid. Although a difficult loan type in today’s market, Sequoia […]
This borrower has a credit score of 757 and a conventional bank first currently on the property. The borrower, a certified gemologist whose business dates back to 1945, previously operated his jewelry store from this location but later moved to a larger location and leased this property to a local real estate company. He could […]